Latest news with #RM1.85bil
The Star
2 days ago
- Business
- The Star
Sapura Energy reports RM478mil 1Q26 loss
PETALING JAYA: Sapura Energy Bhd , which reported a net loss in its first quarter ended April 30, 2025, expects its financials to improve in subsequent quarters. In a filing with Bursa Malaysia, the oil and gas company said this projection is in line with the progressive recognition of revenue from ongoing projects in the engineering and construction (E&C) division and with certain drilling rigs being on-hire on their new contracts. 'The group's unrestricted cash balance remains healthy and stood at RM1.85bil as at April 30, 2025.' In its first quarter ended April 2025, Sapura Energy reported a net loss of RM477.96mil, compared with a net profit of RM82.13mil in the previous corresponding period, while revenue dropped to RM801.37mil from RM1.18bil a year earlier. 'Performance was impacted mainly due to losses being recognised earlier, particularly for a challenging E&C project in Angola, along with lower activity across the operations and maintenance and drilling segments due to project completions and seasonal factors. 'There was also no contribution from SapuraOMV in the current quarter, following the completion of its divestment in December 2024. The group expects its financials to improve in subsequent quarters, in line with the progressive recognition of revenue from ongoing projects in E&C and with certain drilling rigs being on-hire on their new contracts.' The group's orderbook currently stands at RM7.9bil.
The Star
27-05-2025
- Business
- The Star
FBM KLCI slips for second day amid mixed regional markets
KUALA LUMPUR: The FBM KLCI closed lower for the second consecutive session, weighed down by cautious sentiment as regional markets showed mixed performances. The market barometer fell 8.14 points, or 0.53%, to 1,526.16. The index traded within a 13.48-point range, between an intraday high of 1,535.41 and a low of 1,521.93. Stocks that fell outnumbered those that rose 575 to 338, with another 474 counters unchanged. A total of 2.6 billion shares changed hands, worth RM1.85bil. On Bursa Malaysia, F&N led the decliners, slipping 30 sen to RM27, followed by Sime, down 27 sen to RM1.87, United Plantations, which eased 22 sen to RM22.78, and BLD Plantation , 20 sen lower at RM10.80. Conversely, Nestle jumped RM1.90 to RM81.50, PETRONAS Dagangan added 70 sen to RM19.80, Kuala Lumpur Kepong rose 56 sen to RM20.36 and Hong Leong Industries gained 30 sen to RM13.78. Stock market data showed that foreign investors sold a net RM61mil on Monday. Local institutions and retailers were net buyers, with RM54mil and RM7mil, respectively. Meanwhile, the ringgit was quoted at 4.2382, up 0.46% against the US dollar. Elsewhere in the region, Japan's Nikkei 225 rose 0.51%, Hong Kong's Hang Seng Index closed up 0.43%, South Korea's Kospi fell 0.27% and China's CSI 300 Index closed down 0.54%.
